Financial advisor market sentiment plunged in March, falling into negative territory for the first time, even before the full extent of President Donald Trump’s tariff plan was announced.
Expatriate Financial Services didn’t make the transition after LPL acquired its parent RIA, so the 4-person team is setting off on its own to manage what could be about $200 million in client assets.
Also, a South Carolina RIA snags a former Schwab high performer; New York-based Lenox Advisors promotes one advisor to partner, another to managing director; RIA NorthRock bolsters its Chicago office with a veteran advisor.
MAI Capital, which has long had a practice advising professional athletes, recruited Jon Hayes and partner Tim Hightower from their sports-focused practice at Constellation Wealth.
Cerulli finds that the direct indexing boom still has “significant runway” among advisors, with 26% actively choosing not to use it despite having access.
Firms including Osaic, Cetera, Raymond James and Kestra are boosting their typical deals to capture Commonwealth advisors in the wake of the acquisition by LPL, sources said.
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